PayPal Tax ID request - when to stop selling?

[Gladiator]

Originally Posted by dallis

Your accountant doesn't give a **** how many PP's you have.

All you have to give him is the total numbers, categorized by expense and income totals.

There's no mandatory 'three email' rule. Once the clock starts ticking, even if you never get even the first email, things are going happen on a fixed time schedule whether you get three emails or not. Stopping taking payments won't stop PP's clock.

Nickopedia's comments are accurate and align with my general experience.

Frankly, it shouldn't be a matter of deep concern if you're doing the right thing.

This degree of worry and avoidance sounds as if you're trying to avoid paying taxes, and that's a really bad idea on every level.

That is exactly what I was thinking.

The logic used by the OP is stupid. You are concerned about showing too many accounts to an accountant? So you just admitted you aren't showing them if they are under the limit, thus committing tax fraud.

Martyjump - The only limit is for your personal name, which is one. LLC's and other business setups can get as many as you want. The business name/address is the important key to successfully using EIN's.